Category Archives: oil and gas

Cities consider suing oil companies over climate change

The city of Toronto is considering taking oil companies to court over the costs of climate change. Several U.S. cities have launched similar lawsuits against producers of fossil fuels. And the western city of Victoria is going to ask a group of municipalities in its province of British Columbia to launch a similar class-action lawsuit.

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Ottawa may have overpaid for Trans Mountain by up to $1B, parliamentary budget officer says

The federal Liberal government may have overpaid for the Trans Mountain pipeline project by up to $1 billion, the parliamentary budget officer estimates, and there’s a risk its value could decline further if there are any other delays in the building timeline.

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The British press arrives in Alberta’s oilsands — armed with ignorance and fake news

So where did The Economist get it wrong? Let’s start with how in its December attack on energy extraction in Canada (“Justin Trudeau’s climate plans are stuck in Alberta’s tar sands”), the magazine claimed Alberta Premier Rachel Notley is “demanding that the federal government speed up construction of a new pipeline to the west coast.” This was in reference to the proposed expansion of the Trans Mountain pipeline.

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Gwyn Morgan: Welcome to another year of stomping on Canada’s most important industry

What was Canada’s biggest business news story of 2018? According to the pundits at The Canadian Press, it wasn’t the giveaway of Canadian oil to Americans for tens of billions of dollars below world prices, caused by a lack of pipelines from Alberta. It wasn’t the loss of tens of billions more in oil and gas investment to the U.S., because Canada is too hostile to building new projects. It wasn’t the Americanization of Encana, once the largest of all Canadian-headquartered companies. It wasn’t the federal Liberal government’s forced purchase of the Trans Mountain pipeline from Kinder Morgan because the expansion faced insurmountable opposition from the B.C. government and indigenous groups. Nor was it the court decision blocking the federal government from completing that project. Instead, The Canadian Press’s choice of business news story of the year was … the legalization of cannabis.

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Could Alberta pull off a full-blown boycott of Quebec?

Over the weekend, former Wildrose leader Brian Jean called for fellow Albertans to join him in an all-out boycott of Quebec products.

The occasion was prompted by a comment from François Legault, the new right-leaning premier of Quebec. At a Montreal premiers’ meeting, Legault shot down any hope for a revival of the Energy East pipeline saying “there’s no social acceptability (for oil) in Quebec.”

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Continuing Oil Discount Will Slash Canada’s Economic Growth

In a common-sense conclusion, TD Bank economists say Canada’s economy will suffer if the massive oil price discount for Canadian oil continues.

The damage will be worst in Alberta, and overall growth in the country will fall by 0.5%.

Keep in mind, considering that economic growth is already struggling to keep up with inflation and population growth, a 0.5% fall would shift Canada closer to a recession.

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